Czech carmaker rooted in 1895, now part of VW Group
Volkswagen has presented a restructuring plan that will cut model lines by up to half and reduce production capacity to about 9 million vehicles a year. Chief executive Oliver Blume has said the group faces a 20% cost disadvantage to rivals and has proposed a "theoretical" further 50,000 job reductions on top of earlier cuts, prompting union protests and board resistance.
Volkswagen has approved its Future Plan 2030, a wide-ranging restructuring that will cut about 50,000 additional jobs — bringing total reductions to roughly 100,000 by 2030 — halve the model range by 2035 and end car production at four German plants between 2031 and 2034. The company has pledged a three‑figure billion euro investment to strengthen brands while simplifying offerings.
The EU is debating an Industrial Accelerator Act to ensure subsidies and public procurement favour European-made vehicles. The discussion, at the Paris motor show, includes calls to treat the UK as part of the EU for eligibility. VW and Renault executives warn Europe faces fierce competition from China as the bloc imposes a hybrid car import quota.